Quarterly report pursuant to Section 13 or 15(d)

Statement of Financial Position

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Statement of Financial Position (USD $)
Mar. 31, 2012
Dec. 31, 2011
Current Assets    
Cash and cash equivalents $ 1,965,892 $ 3,569,098
Marketable securities 5,297,762 5,146,823
Restricted cash 552,432 551,883
Accounts receivable - project revenue and reimbursable project costs 925,254 277,211
Prepaid expenses and other current assets 377,759 269,697
Total Current Assets 9,119,099 9,814,712
Property Plant and Equipment -net 40,348 46,514
Other Assets    
Patent costs - net 565,104 537,075
Security deposits 80,324 120,486
Total Other Assets 645,428 657,561
Total Assets 9,804,875 10,518,787
Current Liabilities    
Accounts payable and accrued liabilities 1,412,311 1,680,433
Total Current Liabilities 1,412,311 1,680,433
Commitments and contingencies 0 0
Stockholders' Equity    
Preferred stock, $0.001 par value, 50,000,000 authorized shares, no shares issued and outstanding 0 0
Common stock, $0.001par value, 500,000,000 authorized, 12,500,360 shares issued, 12,464,766 shares outstanding and 12,476,414 shares issued, 12,427,220 shares outstanding at March 31, 2012 and December 31, 2011, respectively 12,465 12,427
Additional paid in capital - stock and stock equivalents 71,329,282 70,946,951
Deficit (62,952,308) (62,155,774)
Common stock reserved for issuance, 977 shares and 17,120 shares at March 31, 2012 and December 31, 2011, respectively 3,125 34,750
Total Stockholders' Equity 8,392,564 8,838,354
Total Liabilities and Stockholders' Equity $ 9,804,875 $ 10,518,787